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Key Details
Property Type Multi-Family, Townhouse
Sub Type End of Row/Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 20,000 sqft
Price per Sqft $17
Subdivision Barclay
MLS Listing ID MDBA2221274
Style Converted Dwelling
Abv Grd Liv Area 20,000
Year Built 1900
Annual Tax Amount $3,894
Tax Year 2025
Lot Size 1,290 Sqft
Acres 0.03
Lot Dimensions 15' 86'
Property Sub-Type End of Row/Townhouse
Source BRIGHT
Property Description
With three one-bedroom apartments, individual utilities, and below-market rents that offer future upside, the property provides both immediate housing and the opportunity to grow cash flow over time as apartments turn over.
Example Owner-Occupant Financing Scenario*
●3.5% Down Payment
●Purchase Price: $369,000
●Loan Amount: $356,085
●Interest Rate: 6.00%
●30-Year Fixed Mortgage
●Estimated Monthly PITI + Mortgage Insurance: $3,064
●Rental Income from Two Apartments: $2,600/month
●Estimated Monthly Housing Cost for Owner: Approximately $464/month
*Illustrative financing example only. Financing programs, down payment requirements, occupancy requirements, and loan approval vary by lender.
For investors, at $116,667 per unit, 2405 Barclay Street offers a lower-cost opportunity to acquire a three-unit apartment building in one of central Baltimore's most renter-supported neighborhoods. Recent census data indicates that 58% of neighborhood households rent their homes, while the surrounding housing stock remains predominantly single-family, helping support continued demand for apartment housing.
Current rents remain below market, creating an opportunity to increase income as apartments turn over. For an investor utilizing conventional financing with a 20% down payment, the property produces a projected 8.75% capitalization rate and a 10.2% cash-on-cash return at market rents, illustrating the long-term income potential available through market rent alignment.
Location
State MD
County Baltimore City
Zoning R-8
Rooms
Basement Unfinished, Interior Access
Interior
Hot Water Electric
Heating Heat Pump(s)
Cooling Central A/C
Inclusions 3 electric ranges of various sizes, 3 stacked washers & dryers, 3 refrigerators included.
Fireplace N
Heat Source Electric
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Stone
Above Ground Finished SqFt 20000
Sewer Public Sewer
Water Public
Architectural Style Converted Dwelling
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0312153826 003
Ownership Ground Rent
SqFt Source 20000
Special Listing Condition Standard
Nearby Locations
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Marc DiFrancesco
Real Estate Advisor & Licensed Agent | License ID: 2183327
Real Estate Advisor & Licensed Agent License ID: 2183327